DJ Hardman & Co Research: City of London Investment Group (CLIG): Robust profits in tough markets
Hardman & Co Research Hardman & Co Research: City of London Investment Group (CLIG): Robust profits in tough markets 28-Jul-2022 / 07:15 GMT/BST
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Hardman & Co Research:
City of London Investment Group (CLIG): Robust profits in tough markets
City of London has announced its trading update for the final quarter of FY'22. It has been another tough quarter for fund managers, with global markets suffering significant setbacks. CLIM's two main benchmarks, the MSCI Emerging Markets Net TR Index and the MSCI All Country World Index ex US, declined 11% and 14%, respectively. Against that, it is no surprise that City of London's total FUM declined from USD10.26bn to USD9.22bn. This was helped by another quarter of net inflows, with the International strategy adding USD183m of net new assets. Against that was underperformance in most of CLIM's strategies.
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1407535 28-Jul-2022
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(END) Dow Jones Newswires
July 28, 2022 02:15 ET (06:15 GMT)
